MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE OF THE
BOARD OF VISITORS OF VIRGINIA COMMONWEALTH UNIVERSITY
December 21, 1982
A meeting of the Executive Committee of the Board of Visitors of
Virginia Commonwealth University was held on Tuesday, December 21, 1982,
at 9:00 a.m. in the University Meeting Center.
Present were Messrs. Balfour, Craigie, Grey, Ludeman and Smith; and
Drs. Coleman and Gayle. Absent were Mesdames Bemiss and Thalhimer; and
Dr. Nemuth. Also present were Drs. Ackell, Hall, Salley, and Wilson;
Messrs. Bruegman and Guerdon; and Mrs. Price.
Dr. Ackell discussed the Governor's Guidance Package for the 1984-86
biennium. The Governor's goals and objectives are part of a booklet
entitled, "Virginia - A Future Worthy of Her Past." He reviewed the
eight objectives outlined by the Governor in the Education section. Dr.
Ackell reported that he had met with the deans and vice presidents and
discussed the Governor's plans for the future. They are:
1. Strengthen the operating and program discretion of the govern-
ing boards of individual institutions recognizing the excessive
centralization of administrative authority can diminish the
benefits of diversity.
2. Maintain institutional accountability for program results and
for the efficient use of allocated resources.
3. Reduce reliance on funding formulae that reward excessively
institutions and programs that grow in excess of approved
plans.
4. Discourage the creation of new educational programs which
tive or marginal programs as a condition of approval for any
require additional resources except in cases of clear and compelling need by requiring the elimination of existing unproduc-
new programs.
5. Place special emphasis on programs that support economic devel-
opment objectives of the Commonwealth and strengthen the links
between the business community and Virginia's institutions of
higher learning to meet this goal.
6. Attach a high priority to implementing policies designed to
achieve the goals expressed in the Virginia Plan for Higher
education recognizing that maintaining a truly open system of
higher education in Virginia remains a major public commitment.
7. Enhance programs in our community colleges that will retrain
Virginia workers to permit existing Virginia businesses to
exploit new and developing economic opportunities.
8. Maximize direct funding of community college educational pro-
grams and minimize funding of central administrative functions.
Mr. Bruegman reported on the new Tuition and Fee Policy for 1984-86
which has been approved by the State Council for Higher Education. For
the senior colleges and universities, the tuition and fee rates are
calculated based on actual costs of education at each level of
instruction, as well as residency status of students at each
institution. Non-resident student tuition is calculated to be three
times more than that for Virginians or 75 percent of the cost as
compared to 25 percent for Virginians. A critical component of the plan
is an adjustment for out-of-state graduate students who are
significantly employed by the institution. For the purpose of
calculating tuition and fee revenues, these graduate students are
counted as resident students. Mr. Bruegman stated that this plan was
supported by VCU throughout the discussion at the Council and will
result in students paying approximately 30 percent of their educational
costs on an overall basis.
Mr. Bruegman reported that the State Council of Higher Education is
is revising its system for analyzing faculty salaries. Under the new
system, VCU will remain a category IA institution. The criteria for
classification as a category IA institution are: granting of thirty
(30) doctoral-level degrees including first professional in three (3) or
more doctoral level and first professional program areas; maintaining
ten (10) percent of total enrollments in advanced graduate level
programs, including first professional programs; and ranking as one of
the top 100 research universities receiving Federal funding in the U.S.
Dr. Ackell introduced a proposal for Enhancing Education in Dentist-
ry at VCU which has been approved by the State Council. Based on the
projected manpower needs in Virginia, the constraints of VCU's existing
dental education facilities and the commitment of available financial
resources, the administration has recommended that the School of Den-
tistry entering class be reduced from 110 to 90 commencing in 1984-85.
This will improve the clinical dental student/faculty ratio while
retaining the present basic sciences ratio, and thus provide an overall
student/faculty funding ratio of 3.0:1. This will meet accreditation
standards and allow the educational program to be maintained at a
programmatic level consistent with peer institutions. The Committee
requested additional data regarding manpower projection which will be
provided by Mr. Bruegman.
Dr. Ackell reported that the University Council had approved a
Financial Emergency Document. However, after further review by the
administration, it was believed that the document's implementation
process was too lengthy. Dr. Ackell stated that another group is
reviewing this document and hopes to have a revised document in the near
future.
Dr. Ackell reviewed the State Budget/Revenue situation. He indicat-
ed that we will not have any precise information until the Governor
speaks to the General Assembly on January 12 and outlines his plans.
Mr. Guerdon presented the Resolution concerning the Common Fund.
Following a discussion, on motion made and seconded, the following Reso-
lution was approved:
WHEREAS, Virginia Commonwealth University desires to invest, from
time to time, certain funds of the University with the Common Fund
for Short Term Investments through the Philadelphia National Bank,
as Trustee of Participating Trusts; and
WHEREAS, the Board of Visitors of Virginia Commonwealth University
desires to authorize and approve the execution of a Trust Agreement
between the University and the Philadelphia National Bank, Trustee,
pursuant to which the investment of University Funds with the Common
Fund for Short Term Investments may be accomplished;
NOW THEREFORE, BE IT RESOLVED, by the Executive Committee of the
Board of Visitors of Virginia Commonwealth University that the
printed forms of the proposed Trust Agreement between Virginia Com-
monwealth University (the "University") and the Philadelphia Nation-
al Bank as trustee (the "Trustee") and the Participation
Authorization and Undertaking by the University and the Plan of the
Common Fund for Short Term Investments, dated September 9, 1974,
adopted by the Trustee, and submitted to this meeting of the Execu-
tive Committee of the Board of Visitors of the University, be and
the same hereby are approved in all respects; and further be it
Resolved, that the University is authorized to enter into a Trust
Agreement with the Trustee in substantially the form of Trust Agree-
ment submitted to this meeting with such changes therein as may be
approved by the officer executing it on behalf of the University,
such approval to be conclusively evidenced by his execution of it;
and further be it
RESOLVED, that the University is authorized to execute and deliver
to the Trustee a Participation Authorization and Undertaking in
substantially the form of the Participation Authorization and Under-
taking submitted to this meeting of the Executive Committee of the
Board of Visitors of the University, with such changes therein as
may be approved by the Vice President for Finance of the University,
such approval to be conclusively evidenced by his execution of it;
and finally be it
RESOLVED, that the Vice President for Finance of the University
be, and he hereby is authorized in the name and on behalf of the
University to execute and deliver all of the foregoing instruments
and to give such instructions, complete and sign such additional
forms and take all such other action as shall be necessary or appro-
priate to implement or carry out the intent of the foregoing resolu-
tions.
The meeting was adjourned at 10:20 a.m.
Harold I. Nemuth, M. D., Secretary
Approved:

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MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE OF THE
BOARD OF VISITORS OF VIRGINIA COMMONWEALTH UNIVERSITY
December 21, 1982
A meeting of the Executive Committee of the Board of Visitors of
Virginia Commonwealth University was held on Tuesday, December 21, 1982,
at 9:00 a.m. in the University Meeting Center.
Present were Messrs. Balfour, Craigie, Grey, Ludeman and Smith; and
Drs. Coleman and Gayle. Absent were Mesdames Bemiss and Thalhimer; and
Dr. Nemuth. Also present were Drs. Ackell, Hall, Salley, and Wilson;
Messrs. Bruegman and Guerdon; and Mrs. Price.
Dr. Ackell discussed the Governor's Guidance Package for the 1984-86
biennium. The Governor's goals and objectives are part of a booklet
entitled, "Virginia - A Future Worthy of Her Past." He reviewed the
eight objectives outlined by the Governor in the Education section. Dr.
Ackell reported that he had met with the deans and vice presidents and
discussed the Governor's plans for the future. They are:
1. Strengthen the operating and program discretion of the govern-
ing boards of individual institutions recognizing the excessive
centralization of administrative authority can diminish the
benefits of diversity.
2. Maintain institutional accountability for program results and
for the efficient use of allocated resources.
3. Reduce reliance on funding formulae that reward excessively
institutions and programs that grow in excess of approved
plans.
4. Discourage the creation of new educational programs which
tive or marginal programs as a condition of approval for any
require additional resources except in cases of clear and compelling need by requiring the elimination of existing unproduc-
new programs.
5. Place special emphasis on programs that support economic devel-
opment objectives of the Commonwealth and strengthen the links
between the business community and Virginia's institutions of
higher learning to meet this goal.
6. Attach a high priority to implementing policies designed to
achieve the goals expressed in the Virginia Plan for Higher
education recognizing that maintaining a truly open system of
higher education in Virginia remains a major public commitment.
7. Enhance programs in our community colleges that will retrain
Virginia workers to permit existing Virginia businesses to
exploit new and developing economic opportunities.
8. Maximize direct funding of community college educational pro-
grams and minimize funding of central administrative functions.
Mr. Bruegman reported on the new Tuition and Fee Policy for 1984-86
which has been approved by the State Council for Higher Education. For
the senior colleges and universities, the tuition and fee rates are
calculated based on actual costs of education at each level of
instruction, as well as residency status of students at each
institution. Non-resident student tuition is calculated to be three
times more than that for Virginians or 75 percent of the cost as
compared to 25 percent for Virginians. A critical component of the plan
is an adjustment for out-of-state graduate students who are
significantly employed by the institution. For the purpose of
calculating tuition and fee revenues, these graduate students are
counted as resident students. Mr. Bruegman stated that this plan was
supported by VCU throughout the discussion at the Council and will
result in students paying approximately 30 percent of their educational
costs on an overall basis.
Mr. Bruegman reported that the State Council of Higher Education is
is revising its system for analyzing faculty salaries. Under the new
system, VCU will remain a category IA institution. The criteria for
classification as a category IA institution are: granting of thirty
(30) doctoral-level degrees including first professional in three (3) or
more doctoral level and first professional program areas; maintaining
ten (10) percent of total enrollments in advanced graduate level
programs, including first professional programs; and ranking as one of
the top 100 research universities receiving Federal funding in the U.S.
Dr. Ackell introduced a proposal for Enhancing Education in Dentist-
ry at VCU which has been approved by the State Council. Based on the
projected manpower needs in Virginia, the constraints of VCU's existing
dental education facilities and the commitment of available financial
resources, the administration has recommended that the School of Den-
tistry entering class be reduced from 110 to 90 commencing in 1984-85.
This will improve the clinical dental student/faculty ratio while
retaining the present basic sciences ratio, and thus provide an overall
student/faculty funding ratio of 3.0:1. This will meet accreditation
standards and allow the educational program to be maintained at a
programmatic level consistent with peer institutions. The Committee
requested additional data regarding manpower projection which will be
provided by Mr. Bruegman.
Dr. Ackell reported that the University Council had approved a
Financial Emergency Document. However, after further review by the
administration, it was believed that the document's implementation
process was too lengthy. Dr. Ackell stated that another group is
reviewing this document and hopes to have a revised document in the near
future.
Dr. Ackell reviewed the State Budget/Revenue situation. He indicat-
ed that we will not have any precise information until the Governor
speaks to the General Assembly on January 12 and outlines his plans.
Mr. Guerdon presented the Resolution concerning the Common Fund.
Following a discussion, on motion made and seconded, the following Reso-
lution was approved:
WHEREAS, Virginia Commonwealth University desires to invest, from
time to time, certain funds of the University with the Common Fund
for Short Term Investments through the Philadelphia National Bank,
as Trustee of Participating Trusts; and
WHEREAS, the Board of Visitors of Virginia Commonwealth University
desires to authorize and approve the execution of a Trust Agreement
between the University and the Philadelphia National Bank, Trustee,
pursuant to which the investment of University Funds with the Common
Fund for Short Term Investments may be accomplished;
NOW THEREFORE, BE IT RESOLVED, by the Executive Committee of the
Board of Visitors of Virginia Commonwealth University that the
printed forms of the proposed Trust Agreement between Virginia Com-
monwealth University (the "University") and the Philadelphia Nation-
al Bank as trustee (the "Trustee") and the Participation
Authorization and Undertaking by the University and the Plan of the
Common Fund for Short Term Investments, dated September 9, 1974,
adopted by the Trustee, and submitted to this meeting of the Execu-
tive Committee of the Board of Visitors of the University, be and
the same hereby are approved in all respects; and further be it
Resolved, that the University is authorized to enter into a Trust
Agreement with the Trustee in substantially the form of Trust Agree-
ment submitted to this meeting with such changes therein as may be
approved by the officer executing it on behalf of the University,
such approval to be conclusively evidenced by his execution of it;
and further be it
RESOLVED, that the University is authorized to execute and deliver
to the Trustee a Participation Authorization and Undertaking in
substantially the form of the Participation Authorization and Under-
taking submitted to this meeting of the Executive Committee of the
Board of Visitors of the University, with such changes therein as
may be approved by the Vice President for Finance of the University,
such approval to be conclusively evidenced by his execution of it;
and finally be it
RESOLVED, that the Vice President for Finance of the University
be, and he hereby is authorized in the name and on behalf of the
University to execute and deliver all of the foregoing instruments
and to give such instructions, complete and sign such additional
forms and take all such other action as shall be necessary or appro-
priate to implement or carry out the intent of the foregoing resolu-
tions.
The meeting was adjourned at 10:20 a.m.
Harold I. Nemuth, M. D., Secretary
Approved: